Mutual of America Capital Management LLC Decreases Holdings in IPG Photonics Co. (NASDAQ:IPGP)
Are you interested in the world of finance and investments? If so, you may want to keep an eye on IPG Photonics Co. (NASDAQ:IPGP). Mutual of America Capital Management LLC recently decreased its holdings in the semiconductor company, sparking interest among other institutional investors.
In the first quarter, Mutual of America Capital Management LLC sold 721 shares of IPG Photonics, bringing their total holdings to 17,613 shares valued at $1,597,000. Other hedge funds and institutional investors have also made moves with IPGP, including FORA Capital LLC, BNP Paribas Financial Markets, Mirae Asset Global Investments Co. Ltd., Commonwealth Equity Services LLC, and Principal Financial Group Inc.
Insider activity at IPG Photonics has also been noteworthy, with Director Eric Meurice and major shareholder Valentin Gapontsev Trust I both selling shares in recent transactions. These insider sales have caught the attention of investors and analysts alike.
Speaking of analysts, IPGP has been the subject of various reports, with ratings ranging from sell to strong buy. The stock currently has an average rating of “Moderate Buy” and an average price target of $110.40.
In terms of performance, IPG Photonics stock opened at $89.63 on Monday with a market cap of $4.08 billion. The company recently reported earnings that beat analyst estimates, showing resilience in a challenging market.
IPG Photonics Corporation is known for its high-performance fiber lasers, fiber amplifiers, and diode lasers used in materials processing worldwide. With a diverse range of laser products, the company continues to innovate and adapt to industry demands.
If you’re curious about what other hedge funds are doing with IPGP, you can visit HoldingsChannel.com for the latest 13F filings and insider trades. Stay informed and stay ahead in the world of finance with IPG Photonics.
